Europe Toast
Europe is toast. Energy bills for home and business to the moon. $120 is now $1000 / month.
Chinaman stirring the shortage pot:
China’s major manufacturing hub Sichuan province has ordered all factories to shut down for 6 days to ease a power shortage. Sichuan is key for semiconductor/solar panel industries & China’s lithium mining hub. Will hit Foxconn, Intel, Apple, Tesla-supplier factories & more
Gas & electricity bill for a business owner in the South of Italy (literally a few km away from my hometown)
– July 2021: EUR 120k
– July 2022: EUR 979kIn his own words: ''A holiday in July would have been more profitable than running my business with these input costs''
Ouch pic.twitter.com/BLqd1SxGR8
— Alf (@MacroAlf) August 17, 2022